Futuris Company (FTRS)

[Tempted]

Posted by: k_trader Date: Tuesday, August 17, 2010 4:37:32 PM
In reply to: k_trader who wrote msg# 11450 Post # of 12073

After EOD today a Bearish Engulfing Candle pattern has formed. I would expect to see further pull back between .0010 and .0013 for tomorrow, possibly triple zeros by end of week as I mentioned in my posts last week.

Light at the end of the tunnel...

Important thing to note here, if we do see triple zeros and find support between 0.0007 and 0.0010 it would suggest a triple bottom play is forming. This would be the time to "load up" because the rebound could have huge potential.

The estimated failure rate for a triple bottom is a low 4% assuming that an investor waits for the upside breakout through the confirmation point. This pattern should give longs a light at the end of the tunnel, greener days should be coming soon. You have to weather the storms first.

More info
http://www.trending123.com/patterns/triple_bottom.html

Something to think about anyway, GLTA.